Empresas La Polar, S.A. (A) Case Solution
This is just an excerpt. This case is about GLOBAL BUSINESS
PUBLICATION DATE: October 17, 2016
On June 9, 2011, Empresas La Polar S.A., a Chilean merchant, notified the Chile's securities commission that it had actually found abnormalities in its accountancy for charge card receivables. A deceitful charge card plan authored by crucial executives and missed out on by auditors and directors was going to lead to an approximated write-off in excess of US$ 300 million. On June 17th, the business encouraged the commission that the write-off would, in fact, be double the initial quote, totaling up to US$ 640 million, leading to unfavorable equity. The filing contributed to a decline in the worth of the business's stock market worth, dropping from US$ 1.2 billion to US$ 281 million and putting the business at danger of insolvency. Matko Koljatic is connected with Pontificia Universidad Católica de Chile.
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